Bitcoin fell back to $66,700 as traditional markets opened to their first chance to price the weekend's military escalation, with oil surging to $77 and Asian equities dropping 1.4%.
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March 2, 2026, 4:20 amBitcoin reclaims $67,000 amid geopolitical shock — Relief rally or looming bull trap?
March 2, 2026, 4:00 am
BitMEX co-founder Arthur Hayes published a new essay on March 2 arguing that prolonged US military engagement with Iran would increase the likelihood of Federal Reserve rate cuts and money printing, ultimately driving Bitcoin higher.
Bitcoin price started a decent increase above $66,000. BTC is now consolidating above $66,000 and might aim for more gains above $67,200. Bitcoin started a fresh increase after it settled above the $65,500 support. The price is trading below $67,000 and the 100 hourly simple moving average.
Asian markets plunged on Monday as the fallout from US and Israeli military strikes on Iran sent oil surging, stocks tumbling, and investors scrambling for safe havens — but Bitcoin held up better than expected, trading around $66,500 after a weekend that saw it swing between $63,000 and $68,000.
Attention has shifted to whether the Iran conflict remains contained, as Bitcoin traders weigh elevated oil prices and a rising gold price.
Bitcoin faces mounting bearish pressure as weakening liquidity and deeply negative on-chain flows cloud the outlook, Willy Woo warns, suggesting that any short-term rebound may be rejected before a durable recovery can take hold.
The past few days have seen shocking developments on the geopolitical front, with the United States and Israel launching coordinated strikes against Iran. The operation took place on Saturday, February 28, 2026, and because cryptocurrency markets trade around the clock, Bitcoin’s price action quickly reflected the shock.
Strategy may be signaling another bitcoin accumulation as Michael Saylor posts his closely watched orange dot chart, a move traders increasingly treat as an indicator of an impending balance sheet expansion.
After clawing its way back above $67,000 on Saturday, bitcoin slipped 2.4% against the greenback on Sunday, gliding just north of the $65,000 mark. Data from crypto derivatives markets show roughly $415 million in positions have been liquidated.
The November exit that changed Bitcoin’s 2026 market structure.
$66,732.00 -1.18%
$1.33T Market Cap
$42.19B Total Volume (3.16%)
$126,080 All Time High -47.07%
until new daily candle
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